I suppose you have to look at is WHAT would make it stronger? And how doable is that?
- Does taking Abyssinia have any strategic purpose? Well, yes it joins Eritrea to the Italian Somali holdings. NOW those latter are only colonial rather than protectorates because Mussolini started a war to conquer them in the 1920s. If they had remained protectorates, then only Eritrea would really count. It COULD be argued that only Eritrea ever really counted strategically. But there is also the question of face - if Italy alone is not sorting out its colonial holdings, but letting them remain more loosely aligned, they are going to look like a more second class power. Abyssinia was a difficulty in the short-term due to sanctions, and no gain in the medium-term due to WW2, but had Italy avoided the latter, it MIGHT have developed into a more strategic asset, whilst avoiding involvement in the war would have led to the abolition of sanctions.
- What happens if Italy does not involve itself in the Spanish Civil War? A lot of its modern aerial and naval forces are now untested. It might again have some boons in international relations, but as stated above staying neutral in WW2 would have repaired most of the damage anyway. After Abyssinia, involvement in Spain didn't do a great deal MORE damage to Italy's standing.